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Target Costing

By Christopher R. DiPaolo, ProTecs |

    Free trade agreements, global manufacturing standards and the Internet have made it possible for companies to do business in countries they would not have considered 20 years ago. Open is a world of opportunity, but for processors of pharmaceuticals, semiconductors and other materials that must meet high standards of product purity and performance, the competition is stiffer than ever as compliance with industry standards and government regulations forces companies large and small to play by the same rules. To better flex their muscles in the marketplace and pump up research and development, giant drugmakers are dismantling inhouse manufacturing operations, and moving production to places like China, India, Puerto Rico and Ireland, where they can take advantage of cheap land, low-cost labor, tax incentives or other perks. So, too, are the nimble neophytes in emerging fields such as biopharmaceuticals and nanotechnology; these R&D startups are outsourcing production, foregoing the prohibitive cost of owning and operating manufacturing facilities. Prerequisite for the manufacture of novel products that may spend years in development pipeline are technologically advanced manufacturing facilities. To maintain cash flow…
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